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Higher Ed in the News

Student loan debt higher than credit card debt in U.S.

September 12, 2010

Total student loan debt exceeds total credit card debt in this country, with $850 billion outstanding. Consumers owe about $828 billion in revolving credit, including credit card debt, according to seasonally adjusted numbers in a report on July credit from the Federal Reserve.

With tuition far outpacing inflation for the past 20 years, student borrowing has continued to grow — a whopping 25 percent last year.

Shockingly, some students don't even know how much they owe — or to whom.